Drake Tax - 1065: K-1 Section K Partner's Share of Liabilities
Article #: 10739
Last Updated: October 21, 2024
How to get an amount to flow to line K1, "Partner's Share of Liabilities" on the Schedule K-1
Section K-1, Partner's Share of liabilities of the partner's Schedule K-1 is completed from entries made in the Schedule L, Line 18 - All Nonrecourse Loans section at the bottom of screen L. The SA links can be used to specially allocate the amounts to partner(s) as needed.
Amounts keyed in lines 15d (Accounts Payable) and 16d (Payables less than 1 year) on the L screen are not carried to that section of Schedule K-1.